Airtel Money Kenya has appointed Bonke Michael as its Acting Managing Director, marking the company’s first leadership move following the departure of Anne Kinuthia-Otieno after nearly five years at the helm.
The appointment comes at a pivotal moment for Airtel Money. The mobile money business has steadily expanded its position in Kenya’s highly competitive digital payments market while its parent company prepares for a planned London listing that could value the wider Airtel Money business at around $10 billion.
Rather than looking outside the business, Airtel Money has turned to a long-serving executive with deep operational knowledge to steer the company through the transition.
Michael has spent nearly a decade at Airtel Money Kenya and brings more than 15 years of experience spanning telecommunications, fintech, revenue growth and digital transformation.
Announcing his appointment on LinkedIn, Michael said he was honoured to take on the responsibility.
“I’m honoured to step into the role of Acting Managing Director Airtel Money Kenya.”
He added that his immediate priority would be maintaining the company’s momentum while working closely with employees, partners and customers.
“As we navigate this transition, I look forward to working alongside an exceptional team to build on our momentum, deliver on our strategic priorities and continue creating meaningful value for our customers, partners and stakeholders.”
The message suggests continuity rather than a strategic reset, with Airtel Money aiming to build on the gains made over recent years.
Michael inherits a business that has been growing rapidly.
Under Anne Kinuthia-Otieno’s leadership, Airtel Money Kenya strengthened its merchant and agent network, expanded strategic banking partnerships and increased its presence in Kenya’s digital financial services market.
The company’s financial performance also improved significantly.
For the 2025 financial year, Airtel Money Kenya’s total income rose to KES 1.68 billion, up from KES 1.09 billion a year earlier, while profit after tax nearly doubled to KES 143 million.
The wider Airtel Money business has also maintained strong momentum across Africa.
For the financial year ended June 2026, Airtel Africa reported 25.8% growth in mobile money revenue, with Airtel Money’s customer base expanding to 56.5 million and annualized transaction values exceeding $245 billion.
Michael also assumes leadership as Kenya’s mobile money industry evolves beyond simply signing up new customers.
Mobile money subscriptions have climbed to 53.4 million, while competition is increasingly shifting toward expanding savings, investments, merchant payments, insurance and other financial services rather than basic money transfers.
For Airtel Money, that means the next phase of competition is likely to be defined less by customer acquisition and more by increasing engagement within its financial ecosystem.
The company has already been moving in that direction through partnerships with banks, expansion of its retail footprint and wider merchant acceptance.
Its agreement with KCB Bank, which allows customers to access thousands of additional banking agents, reflects the growing importance of interoperability and ecosystem partnerships in Kenya’s digital finance sector.
The leadership transition also comes as Airtel Money prepares for one of Africa’s most closely watched fintech listings.
A standalone London listing would allow investors to value the mobile money business independently from Airtel Africa’s telecommunications operations.
That raises the importance of operational continuity.
By appointing an experienced insider rather than bringing in an external executive, Airtel Money appears focused on maintaining execution while continuing preparations for the listing.
Michael’s institutional knowledge could prove valuable as the company balances day-to-day growth with the governance and operational expectations that accompany a public market debut.
While Michael’s appointment is currently on an acting basis, he takes charge of a business with considerably stronger momentum than it had just a few years ago.
Airtel Money has steadily increased its share of Kenya’s mobile money market while broadening its partnerships and strengthening its financial performance.
His immediate challenge will be sustaining that trajectory as competition increasingly shifts toward deeper financial services and as Airtel Money works toward one of the continent’s biggest fintech listings.
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